{"id":5905,"date":"2023-05-08T17:36:43","date_gmt":"2023-05-08T21:36:43","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/coinbase-targets-uae-as-strategic-hub-for-cryptoeconomy-expansion-executives-attend-dubai-fintech-summit\/"},"modified":"2023-05-08T17:36:44","modified_gmt":"2023-05-08T21:36:44","slug":"coinbase-targets-uae-as-strategic-hub-for-cryptoeconomy-expansion-executives-attend-dubai-fintech-summit","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=5905","title":{"rendered":"Coinbase Targets UAE as Strategic Hub for Cryptoeconomy Expansion; Executives Attend Dubai Fintech Summit"},"content":{"rendered":"<div>\n<p>Major US-based crypto exchange Coinbase has praised the United Arab Emirates (UAE), saying the region has the potential to become a \u201cstrategic hub\u201d for the company.<\/p>\n<p>Writing in a blog post over the weekend, Coinbase called the UAE \u201ca centre of web3 innovation,\u201d with the emirate of Dubai alone home to some 500 startups and the incubator known as Hub71 in Abu Dhabi providing funding for critical blockchain infrastructure projects.<\/p>\n<p>Coinbase also revealed in the blog post that it is already in discussions with Abu Dhabi Global Market (ADGM) regulators and Dubai\u2019s Virtual Assets Regulatory Authority (VARA) about its activities in the region, and the regulatory framework for crypto.<\/p>\n<p>It added that it believes the UAE with its pro-crypto and pro-business regulations will help reach Coinbase\u2019s objective of bringing crypto to 1 billion people worldwide.<\/p>\n<h2>CEO set to visit Dubai<\/h2>\n<p>The blog post from Coinbase also came as the company\u2019s CEO Brian Armstrong and other senior executives are set to visit the UAE and meet with policymakers and regulators.<\/p>\n<p>Among other things, Brian Armstrong is expected to deliver a keynote address at the inaugural Dubai Fintech Summit<\/p>\n<p>Coinbase took its first step towards global expansion as recently as last week, when it opened a crypto derivatives exchange in Bermuda for non-US traders.<\/p>\n<p>The launch of the new derivatives exchange came after Coinbase CEO Brian Armstrong in April revealed that relocated out of the US is an option for the exchange, saying \u201canything is on the table, including relocating or whatever is necessary.\u201d<\/p>\n<p>US regulators, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), have stepped up their scrutiny of the crypto industry this year, threatening a number of companies in the sector with enforcement action.<\/p>\n<p>In March this year, Coinbase was served a so-called Wells notice by the SEC, a warning that typically proceeds legal action.<\/p>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/coinbase-targets-uae-as-strategic-hub-for-cryptoeconomy-expansion-executives-attend-dubai-fintech-summit.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major US-based crypto exchange Coinbase has praised the United Arab Emirates (UAE), saying the region has the potential to become a \u201cstrategic hub\u201d for the company. Writing in a blog post over the weekend, Coinbase called the UAE \u201ca centre of web3 innovation,\u201d with the emirate of Dubai alone home to some 500 startups and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-5905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase Targets UAE as Strategic Hub for Cryptoeconomy Expansion; Executives Attend Dubai Fintech Summit | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Major US-based crypto exchange Coinbase has praised the United Arab Emirates (UAE), saying the region has the potential to become a \u201cstrategic hub\u201d for\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=5905\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase Targets UAE as Strategic Hub for Cryptoeconomy Expansion; 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